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Well on the way to 2 billion friends - Facebook gets more popular, | :00:00. | :00:19. | |
more profitable and more powerful than ever before. | :00:20. | :00:22. | |
Plus, driving a Brexit bargain - why Britain's the place to snap up | :00:23. | :00:25. | |
Also in the programme: A rare bit of good news for Mexico's car | :00:26. | :00:52. | |
We start with Facebook - because despite predictions | :00:53. | :00:55. | |
of a slowdown, the world's biggest social network keeps getting more | :00:56. | :00:58. | |
popular, more profitable and more powerful. | :00:59. | :01:00. | |
Late on Wednesday it reported quarterly numbers that were much | :01:01. | :01:03. | |
They round off another year of rapid growth that has seen it become one | :01:04. | :01:07. | |
of the biggest advertising businesses on earth. | :01:08. | :01:09. | |
Its massive reach has also of course raised concerns about the amount | :01:10. | :01:12. | |
of influence it can have and the reliability of information | :01:13. | :01:15. | |
So let's give you an idea of how big Facebook now is. | :01:16. | :01:28. | |
By the end of last year, over 1.86 billion people | :01:29. | :01:32. | |
around the world were logging on at least once a month, | :01:33. | :01:35. | |
1.25 billion of those log on every single day - | :01:36. | :01:41. | |
and the vast majority via smartphones. | :01:42. | :01:46. | |
Advertisers love it - last year, they spent almost $29 | :01:47. | :01:49. | |
billion placing ads on Facebook - a jump of 57% on 2015. | :01:50. | :01:58. | |
That made Facebook profits of well over $10 billion | :01:59. | :02:02. | |
reaching saturation point for the amount of advertising it can | :02:03. | :02:09. | |
And it could give companies more opportunity | :02:10. | :02:18. | |
to promote themselves on Instagram, the image sharing platform | :02:19. | :02:22. | |
Instagram though is facing tough competition from rival Snapchat | :02:23. | :02:29. | |
which is about to sell shares in New York in the biggest tech | :02:30. | :02:33. | |
And it wasn't all celebration for Facebook after a jury | :02:34. | :02:39. | |
ruled its virtual reality division Oculus had infringed another | :02:40. | :02:42. | |
company's intellectual property and should pay them | :02:43. | :02:44. | |
Our North America Technology reporter Dave Lee is at Facebook | :02:45. | :02:52. | |
headquarters in Menlo Park, California. | :02:53. | :02:59. | |
Nice to see you. It's the middle of the night there now. It is | :03:00. | :03:06. | |
incredible, really, the news from Facebook in terms of the earnings | :03:07. | :03:12. | |
but this Oculus rift ruling is a thorn in its side? It really is. | :03:13. | :03:18. | |
Mark Zucker Berg had testified in that trial to convince the jury it | :03:19. | :03:26. | |
was Facebook's oh and innovation. -- Zuckerberg. Originally the company | :03:27. | :03:31. | |
which brought the lawsuit, they wanted $2 billion in damages. They | :03:32. | :03:36. | |
got $500 million relating to the breach of a nondisclosure agreement | :03:37. | :03:41. | |
so the got some damages. Both sides are calling that a victory for | :03:42. | :03:46. | |
themselves. It is a bit of a destruction. Just a drop in the | :03:47. | :03:50. | |
Ocean given the enormous amount of money Facebook is making. You | :03:51. | :03:55. | |
mentioned in the queue, over $10 million profit -- $10 billion profit | :03:56. | :04:00. | |
in the last year. That is because in this transition to mobile which | :04:01. | :04:04. | |
originally Facebook were concerned about, they thought people would not | :04:05. | :04:10. | |
click on ads on mobiles, it makes up 80% of their and revenue. They've | :04:11. | :04:13. | |
made the transition and made it very well. That trick is to keep that | :04:14. | :04:20. | |
growth. Facebook is cautious. It does not like to get investors hopes | :04:21. | :04:25. | |
up. For the time being, Facebook is matching those expectations. Dave | :04:26. | :04:35. | |
outside Facebook headquarters. Let's get more analysis with Matthew. The | :04:36. | :04:42. | |
Oculus story is not fantastic. The year has been a good one but how | :04:43. | :04:48. | |
long can they keep this up? Particularly impressive, the user | :04:49. | :04:51. | |
growth but over the next year, some things to look out for in terms of | :04:52. | :04:55. | |
short-term areas to improve Facebook, for example, time spent on | :04:56. | :05:00. | |
the platform in the core markets as well as the average price paid by | :05:01. | :05:08. | |
advertisers so Facebook needs to convince advertisers of the value. | :05:09. | :05:15. | |
And it has to be about the value. There is only so much advertising | :05:16. | :05:19. | |
that Facebook users will tolerate. It has to be less but advertisers | :05:20. | :05:24. | |
pay more for that. Facebook is limiting the overall and load on its | :05:25. | :05:31. | |
main Facebook and and that limit is being reached late this year. We | :05:32. | :05:36. | |
have seen growth in American users given how far its reach is there | :05:37. | :05:39. | |
already but also an increase in Asia. China has been a real problem | :05:40. | :05:46. | |
for Facebook. It's not been able to penetrate China and has issues with | :05:47. | :05:51. | |
the authorities. It wants a piece of that massive cake in terms of the | :05:52. | :05:57. | |
number of users in mainland China. NACRO two was asked about China and | :05:58. | :06:01. | |
he put it in an interesting way, saying they will consider going to | :06:02. | :06:06. | |
China if they can come up with an agreement. That illustrates how it | :06:07. | :06:17. | |
might be a trade-off between compromising the date of the users | :06:18. | :06:20. | |
when it comes to Chinese authorities and their copperheads and | :06:21. | :06:25. | |
surveillance. All right, thank you for joining us this morning. Very | :06:26. | :06:30. | |
interesting. There is so much on the interest -- on the Internet so do | :06:31. | :06:32. | |
take a look. Now - think supercar and bargain | :06:33. | :06:34. | |
isn't the word that immediately But since the UK's vote | :06:35. | :06:37. | |
to leave the European Union, wealthy petrol-heads from around | :06:38. | :06:42. | |
the world have been heading here to do their shopping thanks | :06:43. | :06:45. | |
to the slump in Sterling. Luxury car dealer Tom Jaconelli | :06:46. | :06:48. | |
explains what it has meant I am Tom Jaconelli at Roman is | :06:49. | :07:14. | |
international. We are a family run business. We sell McLaren, Ferrari | :07:15. | :07:19. | |
are the very best of the supercars. What it is meant to European buyers | :07:20. | :07:24. | |
is with the falling pound, they have managed to bag themselves a bargain. | :07:25. | :07:31. | |
The price of one of these McLaren P1s used to cost $2.2 million in | :07:32. | :07:35. | |
America but now they are buying it here for 20% less which is $1.9 | :07:36. | :07:43. | |
million to its $300,000 saving. A real increase in sales to | :07:44. | :07:47. | |
foreigners. Cars that have gone to Hong Kong, Americo, you're up. We | :07:48. | :07:52. | |
normally sell probably three or four cars overseas every year. We mainly | :07:53. | :07:58. | |
sell to the UK but since Brexit, we have seen that threefold. We are | :07:59. | :08:03. | |
selling ten or 11 cars since Brexit overseas which is unheard of for us. | :08:04. | :08:08. | |
We didn't expect it. It is a bonus for us. | :08:09. | :08:11. | |
Mexico has found itself under huge pressure since the election | :08:12. | :08:14. | |
as US companies freeze their investment plans there. | :08:15. | :08:19. | |
But there's been some good news - this press conference on Wednesday | :08:20. | :08:27. | |
heralded a major car manufacturing deal with China | :08:28. | :08:30. | |
Rico Hizon is following this story for us in Singapore. | :08:31. | :08:39. | |
What's going on? It is indeed good news and it's green and gopher China | :08:40. | :08:47. | |
Mexico Mexico Alliance in the automotive sector. You have JAC and | :08:48. | :08:56. | |
giant motors teaming up to invest more than $200 million US in the | :08:57. | :09:00. | |
plant to produce sports utility -- utility vehicles in central Mexico | :09:01. | :09:05. | |
and they are expected to start at the end of March with the goal of | :09:06. | :09:09. | |
making 10,000 units per year by 2021. The SUV will be sold in Mexico | :09:10. | :09:14. | |
and Central America and South America. The announcement comes as | :09:15. | :09:18. | |
US President Donald Trump has threatened to impose stiff export | :09:19. | :09:22. | |
tariffs on companies that ship jobs to Mexico. We have seen Ford decide | :09:23. | :09:28. | |
last month to cancel plans for a $1.6 billion factory in northern | :09:29. | :09:32. | |
Mexico. Trump is also lashed out against General Motors and Toyota. | :09:33. | :09:37. | |
Mexico is the world's fourth biggest car exporter and of course, China is | :09:38. | :09:43. | |
one of the biggest markets for cars. We will see more alliances in | :09:44. | :09:46. | |
manufacturing industries as well. Very end of -- interesting. Good to | :09:47. | :09:48. | |
see you. Oil giant Royal Dutch Shell | :09:49. | :09:50. | |
reports results later. Annual profits are expected to be | :09:51. | :09:52. | |
more than double the previous year - Extreme weather and a pledge by OPEC | :09:53. | :09:56. | |
to cut oil production has seen crude prices surge over | :09:57. | :10:01. | |
the past few months. The dollar has weakened quite a bit | :10:02. | :10:14. | |
-- quite a bit since the US Federal Reserve had delivered a press | :10:15. | :10:20. | |
conference keeping rates on hold. No surprises from the Fed but a | :10:21. | :10:24. | |
stronger yen is not helping Japan trade today. Everybody is wondering | :10:25. | :10:28. | |
when the next move might be from the Fed and it will probably be March or | :10:29. | :10:32. | |
June in terms of an interest rate rise in the States. I will see you | :10:33. | :10:34. | |
soon. The number of students | :10:35. | :10:43. | |
from the European Union applying to study at universities | :10:44. | :10:47. | |
in the UK has fallen by 7% according to the admissions | :10:48. | :10:50. | |
service UCAS. | :10:51. | :10:53. |